Applied Industrial Technologies (NYSE:AIT) Hits New 1-Year High – Time to Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT)’s share price reached a new 52-week high on Monday . The stock traded as high as $340.37 and last traded at $338.6250, with a volume of 485776 shares. The stock had previously closed at $337.96.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday, April 29th. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, June 16th. They set a “buy” rating and a $380.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $323.14.

Applied Industrial Technologies Trading Down 0.2%

The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 3.22 and a beta of 0.84. The business has a 50 day simple moving average of $307.06 and a 200-day simple moving average of $282.67.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, equities analysts predict that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is currently 19.26%.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in Applied Industrial Technologies in the fourth quarter valued at approximately $32,000. V Square Quantitative Management LLC purchased a new position in Applied Industrial Technologies in the fourth quarter valued at approximately $34,000. Allworth Financial LP lifted its position in Applied Industrial Technologies by 446.4% during the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after buying an additional 125 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after buying an additional 78 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.